The 30-year-old running back was slated to count $8.5 million against the salary cap in 2017. The extension alleviates part of that hefty number this season, while giving Stewart some security for next year.

As he has the majority of his career, Stewart battled injury in 2016, missing three games and earned just 3.8 yards per carry on 218 attempts. He's still an effective back when healthy, but the running back position is one the Panthers are likely to add to when the draft rolls around at the end of April.

"I mean, it's a good thing. You always want fresh legs," Stewart said. "Fresh legs mean a lot, especially in the fourth quarter. Having somebody potentially come in here ... there are a lot of good running backs in this draft class, a lot of talent. Definitely open arms to get somebody in here that wants to win and understands that. We're better as a fist than we are as an open hand."